Lam Research Corporation (NASDAQ:LRCX) Holdings Boosted by Headlands Technologies LLC

Headlands Technologies LLC grew its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 140.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,519 shares of the semiconductor company's stock after purchasing an additional 84,927 shares during the period. Lam Research makes up 1.2% of Headlands Technologies LLC's portfolio, making the stock its 12th biggest position. Headlands Technologies LLC's holdings in Lam Research were worth $10,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Financial Partners Inc acquired a new stake in Lam Research during the 1st quarter worth about $201,000. Cerity Partners LLC boosted its holdings in shares of Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after purchasing an additional 293,619 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth approximately $6,296,000. China Universal Asset Management Co. Ltd. grew its position in Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after purchasing an additional 10,565 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after buying an additional 39,414 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays set a $83.00 target price on shares of Lam Research and gave the company an "equal weight" rating in a research note on Monday, July 28th. Citigroup lifted their price objective on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company set a $98.00 target price on Lam Research and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Argus raised their price target on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, KeyCorp boosted their price target on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Price Performance

Shares of LRCX stock opened at $95.94 on Thursday. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a market capitalization of $122.72 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.65. The stock has a 50 day moving average of $94.80 and a two-hundred day moving average of $82.76. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. As a group, equities analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. Lam Research's payout ratio is presently 22.12%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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